Zynerba Pharmaceuticals (NASDAQ:ZYNE) Downgraded by BidaskClub

BidaskClub cut shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a buy rating to a hold rating in a report published on Thursday morning, BidAskClub reports.

Several other research firms have also recently weighed in on ZYNE. Cantor Fitzgerald set a $32.00 price objective on Bausch Health Companies and gave the stock a buy rating in a research report on Friday, May 31st. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. HC Wainwright reiterated a buy rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. Canaccord Genuity set a $18.00 price objective on Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Friday, June 28th. Finally, Zacks Investment Research cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, June 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $22.00.

Shares of Zynerba Pharmaceuticals stock opened at $13.64 on Thursday. The firm’s fifty day simple moving average is $13.16. Zynerba Pharmaceuticals has a 1 year low of $2.75 and a 1 year high of $16.47. The firm has a market cap of $303.48 million, a P/E ratio of -5.23 and a beta of 4.86.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.02. Analysts expect that Zynerba Pharmaceuticals will post -2.04 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of ZYNE. Bernardo Wealth Planning LLC lifted its position in Zynerba Pharmaceuticals by 5.3% in the 1st quarter. Bernardo Wealth Planning LLC now owns 25,419 shares of the company’s stock valued at $138,000 after purchasing an additional 1,278 shares during the last quarter. Virtu Financial LLC lifted its position in Zynerba Pharmaceuticals by 66.9% in the 1st quarter. Virtu Financial LLC now owns 22,384 shares of the company’s stock valued at $121,000 after purchasing an additional 8,970 shares during the last quarter. Campbell Capital Management Inc. lifted its position in Zynerba Pharmaceuticals by 5.3% in the 1st quarter. Campbell Capital Management Inc. now owns 180,787 shares of the company’s stock valued at $980,000 after purchasing an additional 9,100 shares during the last quarter. Deutsche Bank AG lifted its position in Zynerba Pharmaceuticals by 17,314.3% in the 4th quarter. Deutsche Bank AG now owns 279,500 shares of the company’s stock valued at $830,000 after purchasing an additional 277,895 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Zynerba Pharmaceuticals in the 4th quarter valued at about $120,000. Hedge funds and other institutional investors own 10.94% of the company’s stock.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

Recommended Story: Capital Gains Distribution

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Receive News & Ratings for Zynerba Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.